Not sure in which forum this belongs??

[Baseball Parent]

I know the Texas Wildcats have raised funds to attend a World Series - If any others have input I'd appreciate it.

Our team, a 501(c)3, is currently fundraising to offset costs associated with a World Series trip. My question is related to what those funds can be used for. For instance, can they be used to offset the cost of fuel, hotel, meals, etc? Can they only be used to offset the players expenses?

Does anyone have a link to information that would provide some background on this?

Thanks in advance.

[baba]

You can contact the IRS charities division to get an official answer to your question on this. There is a link to their site at the bottom of the Start Your Own Team page on www.bayareaball.org.

It is my understanding that the easiest way for a team to handle it is for the funds to be distributed evenly for the benefit of everyone. Otherwise, there is a lot of paperwork (if they are distributed unevenly). They can be used for anything that benefits the team that you mentioned: hotel, fuel, tournament fees, etc. Anything associated with the extraordinary expense of the World Series. Not sure about the meals--you better check with the IRS on that, but probably since you are travelling.

If you are a 501(c)(3), in your determination letter there should be a bunch of information about the kinds of things you can spend money on.

But I'm not a tax attorney, and this answer should be taken as amatuer advice, so for the best answer, contact the IRS.